-0.28% to $315.34 from $316.22
What moved AAPL
- Apple introduced the iPhone 18 Pro and Pro Max, both powered by a new A20 chip and offering what the company called the longest battery life in iPhone history.
- Apple’s first foldable phone, the iPhone Duo, was unveiled with a book-style folding design featuring a 5.4-inch outer display and a 7.6-inch inner display when opened, starting at $1,999.
- Apple shares traded down more than 1% during the event as some analysts framed the long-anticipated launch as a potential ‘sell the news’ moment.
- Bank of America analyst Wamsi Mohan said investors had already priced in much of the foldable-launch optimism ahead of the official reveal.
Sources: MacRumors · Macworld · CNBC
-2.51% to $319.97 from $328.21
What moved AAPL
- Reports said Apple’s foldable iPhone is initially being produced at a rate of only a few hundred units per day, raising concerns about meeting launch demand.
- Apple reportedly added an extra trial production run last month as it works through manufacturing challenges tied to the device’s hinge and assembly process.
- The reports say Apple has also canceled a tablet-like foldable MacBook concept.
- The news comes ahead of Apple’s September 9 event, where the company is expected to unveil its first foldable iPhone alongside the iPhone 18 lineup.
Sources: The Motley Fool · AppleInsider
+2.61% to $325.13 from $316.85
What moved AAPL
- Apple announced that Tim Cook is stepping down as CEO after 15 years and becoming executive chairman, effective September 1, with the transition unanimously approved by the board following a long-term succession process.
- John Ternus, previously senior vice president of Hardware Engineering and an Apple employee since 2001, becomes the company’s next chief executive officer.
- Cook’s tenure took Apple from a roughly $350 billion company to about $4.6 trillion in market value.
- Apple shares rose in early trading following the announcement even as the broader market declined.
Sources: Apple Newsroom · Al Jazeera · NBC Bay Area · Yahoo Finance
-0.89% to $316.85 from $319.70
What moved AAPL
- Apple confirmed its annual iPhone-focused event for Wednesday, September 9, at 10 a.m. Pacific time at Apple Park in Cupertino, California.
- The event carries the tagline “Surprise and Shine,” fueling anticipation that Apple will debut a foldable iPhone alongside its usual lineup.
- Apple is expected to introduce the iPhone 18 Pro, iPhone 18 Pro Max, and a foldable device referred to as the iPhone Ultra.
- The company is reportedly skipping a standard iPhone 18 model this cycle, holding cheaper models for a spring 2027 launch.
Sources: MacRumors · Gizmodo
+2.19% to $316.83 from $310.03
What moved AAPL
- Apple announced changes, developed in coordination with the European Commission, that scrap the disputed per-install Core Technology Fee for apps distributed outside the App Store.
- The fee is being replaced with a flat 5% “Core Technology Commission” applied to digital transactions, taking effect October 1, 2026.
- The changes are seen as bringing Apple into closer compliance with the EU’s Digital Markets Act and resolving an ongoing dispute with regulators.
- Apple shares rose roughly 2.8% in morning trading following the announcement.
- Separately, Apple released security updates across iOS, iPadOS and macOS addressing an ImageIO framework vulnerability, tracked as CVE-2026-65346, that could allow arbitrary code execution via malicious images.
Sources: MacDailyNews
-0.11% to $305.59 from $305.93
What moved AAPL
- Rothschild & Co Redburn upgraded Apple to Buy from Neutral and raised its price target to $400 from $260.
- Analyst Timm Schulze-Melander cited Apple’s planned entry into the premium foldable smartphone market, forecasting sales of 14 million iPhone Ultra units in fiscal 2027 at an estimated $2,199 price point.
- The firm projects iPhone unit sales growing at a 12% compound annual rate through fiscal 2030, as much as 14 percentage points above Wall Street consensus.
Sources: Investing.com · Seeking Alpha · Yahoo Finance
+0.22% to $305.93 from $305.26
What moved AAPL
- Apple asked the court overseeing its case with Epic Games to let it collect a fee of up to 15% on U.S. purchases made through external payment links.
- The proposed tiered structure includes a 15% cut for apps that otherwise pay Apple’s standard 30% in-app commission, 10% for apps in Apple’s News, Video and Mini Apps partner programs and subscription renewals, and 5% for Small Business Program participants.
- The filing follows the Supreme Court’s rejection of Apple’s bid to pause further lower-court action in the long-running Epic Games dispute, forcing Apple to disclose its planned fee structure.
Sources: TechCrunch · 9to5Mac
-1.09% to $304.91 from $308.26
What moved AAPL
- Apple services chief Eddy Cue told staff in an internal memo that Jennifer Bailey, vice president overseeing Apple Pay and Wallet, will retire at the end of October after more than two decades at the company.
- Bailey led the 2014 launch of Apple Pay and later oversaw the rollout of Apple Wallet and Apple Card.
- Apple said it will announce a succession plan before Bailey’s transition at the end of October.
- Separately, Apple extended its display-panel inventory holding period from four weeks to six weeks, a shift reported alongside increased OLED panel purchases from Samsung and LG Display to support iPhone 17 demand.
Sources: Bloomberg · MacRumors · 9to5Mac · GuruFocus
-1.62% to $308.26 from $313.33
What moved AAPL
- Jefferies downgraded Apple to ‘Underperform’ from ‘Hold’ and lowered its price target, citing supply-chain checks indicating Apple canceled a planned all-glass iPhone that had been expected to launch in September 2027.
- The firm said poor production yields drove the cancellation, calling it a setback to Apple’s plan to introduce higher-priced iPhones and expand margins; the shelved model reportedly carried an estimated blended average selling price of about $2,060.
- Jefferies cut its forecast for iPhone average-selling-price growth between fiscal 2026 and fiscal 2031 to 6.8% from 9%, saying the foldable iPhone is now the main remaining driver of higher iPhone pricing.
- Separately, Apple is reportedly considering raising iPhone 17 prices as part of a broader round of increases across its lineup tied to a surge in memory-chip costs, following similar adjustments already made to Mac, iPad, Apple TV, Vision Pro and HomePod pricing.
- TrendForce data cited in reporting shows memory-chip costs have risen roughly sevenfold since last year, a factor reportedly slowing production of Apple’s new A20 Pro processor because of RAM shortages.
Sources: CNBC · Gurufocus · Blockonomi · Tech Startups